Health Site Network Waterfront Media Raises $25mm

DUMBO,
Brooklyn-based Waterfront Media has closed
a $25 million fourth round of funding. Scale Venture Partners led
the round and was joined by one new investor, Foundation Capital.
Previous investors, including Rho Ventures, Time Warner Ventures
(TWX), BEV Capital, and Neocarta Ventures, also participated.
Waterfront says it will use the funding to expand its network,
increase its ad business, and make more acquisitions. Its network
includes Web sites for the South Beach diet, the Sonoma diet, and
others like My-Calorie-Counter.com, which Waterfront acquired in
April.

The company says it gets 9 million monthly unique visitors,
citing July Comscore numbers.
PaidContent adds that Waterfront raised $6 million last year
and $4 million in 2004, and took $8 million in debt financing
earlier this year. Release
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